BiggerPockets

Drenda,

You are an inspiration to everyone.

Keep everyone posted on your future successes.

Nice pay day Drenda!

Congratulations Drenda!...I have to ask though, from what I know DOM is Days on Market, but what is DOMP? I've never heard that one before.

Drenda,

Congrats on your first deal.

Congratulations! It's great to hear a success story from someone who was careful and did their homework. You are an inspiration to those of us who are still learning.

Great success story!! I hope you have many more in the future and i can't wait to hear them. To me the moral of your story is to get out there and TAKE ACTION !! Its great to know there are people who are willing to help, gotta love BiggerPockets. This reminds me of a quote that goes something like "A pound of wishes isn't worth an ounce of ACTION "

Congrats Drenda!!!

Can you give us newbies some specifics on the kind of deal you made? Also, how have you aquired your rei knowledge so far? From what who and how have you learned what you know so far? Any and all info is appreciated.

Congrats again!!!!

Thank you Josh I will and thanks so much for bigger pockets.....

Now to the gentleman who asked about giving newbies some pointers I thank you as well and I would like to use your name but you dont have one posted so to you sir. I have learned a lot from just reading all I could at first. I was one of those who had bought the Carlton Sheets program but never used it. But it really didnt give me a hands on approach, I was always afraid of doing it on my own. I do recommend find a mentor or coach someone who is actually doing this business and not just talking about it. But mind you I did not have a mentor or coach so to speak when I did my fist deal. I had someone who gave me a start but I because of personal reasons on his part I had to separate myself from him. But I was determined to make this work. So I took some of what he gave me and some of what I had read and approached my first deal. It turned out to be a short sale that moved fairly quickly but only because the bank thought it was a piece of junk and wanted to get it off the books. So I put it under contract for 5k and sold it for 15k and that was my first deal.

My second was an assignment this one posed a problem though. I held onto it a lot longer than I had anticipated, I didnt make a lot but I learned a lot. As a wholesaler you want to get rid of the property quickly so even though sometimes it might be an awesome deal you have to know how to price them and on this one I was way off. But Thank GOD is all worked out in the end.

So on to my next deal. I came to BP just thinking this would be just another one of those Real estate sites. But BOY was I wrong. I have learned so much here and met so may people who have helped me out and I met someone who offered to be a mentor to me and for that I am grateful. So to you I would say you dont just sit on the sidelines, you have got to get out there and do it. Go to the REIA's and meet like minded people. But make sure they are actually doing it and not just talking about it. Utilized this wonderful BP site. Ask questions and believe me they will get answered. I mean any question you can think of and I have a lot:) Dont be afraid to ask, as I was once told the only stupid question is one that was not asked. So get out there my friend and do it....Good Luck

What is the DOM and DOMP and how did you go about finding the property?

Ray

Nice to meet you George and thanks again for the well wishes.
To the other person who asked about how did I find the REO's I looked on bank websites and got in touch with the listing agent and let him know that I only wanted to work with him and once the deal closed he knew I was serious and now he is bringing me everything that he has. BP has a list of all the banks that have REO's check it out.